Thailand plans new economic zones up north
Prime Minister Paetongtarn Shinawatra is anticipated to consider a proposal to establish new economic zones in the north and northeast of Thailand, aiming to bolster regional economies distant from the heavily promoted Eastern Economic Corridor (EEC).
The initiative was proposed by a House of Representatives extraordinary committee following a study of special economic development zones in these regions.
Tachaphol Kanjanakul, an advisor to the committee, stated that members of the Lower House involved in the proposal will present a draft to the PM during a mobile Cabinet meeting in Nakhon Phanom today, April 28 and 29. He expressed the intention to initially create new economic zones in the northeast.
The plan outlines the establishment of 10 special economic development zones in the northeastern provinces and another 10 in the north, according to Tachaphol, who is also a former Deputy Secretary-General of the EEC Office.
The EEC, which encompasses parts of Chon Buri, Rayong, and Chachoengsao, is home to 12 targeted S-curve industries, including next-generation cars and smart electronics, and is anticipated to evolve into a high-tech industrial hub.
Despite being a key investment area, the EEC has not yet significantly contributed to the Thai economy due to delays in some infrastructure development projects.
US President Donald Trump’s tariffs pose a potential challenge to the Thai economy, necessitating new economic strategies, Tachaphol noted.
Washington suggested a reciprocal tariff of 36% on imports from Thailand but deferred enforcement for 90 days to allow negotiations with certain countries.
Tachaphol emphasised the need for new special economic zones beyond the EEC to extend economic growth to other regions and benefit a broader population.
The northeast is considered suitable for these zones partly because of its proximity to neighbouring countries. The study indicates that potential investors are interested in sectors such as agribusiness, logistics, healthcare and wellness, digital technology, and tourism in the northeast.
If approved, these zones could attract investments worth 10 billion baht and provide employment opportunities for locals, reported Bangkok Post.
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